A total of 36,616 transactions worth OMR395,434,390 were conducted in the real estate sector during November 2015, Abdallah bin Salim Al Makhini, Secretary of the Real Estate Registry at the Ministry of Housing has said.
Category: Real Estate
A snapshot of opinion from the GCC’s construction sector – the majority of which are companies involved in larger projects with a value of over AED 100 million – has shown a dramatic drop in optimism over the last year.
Total traded value of real estate activity in the Sultanate reached OMR3,420.1 million by the end of October, reflecting a 40.7 per cent rise, compared with the same period in 2014, data from the National Centre for Statistics and Information (NCSI) revealed.
Most real estate properties last decades; therefore developers and investors must take a long term view of sustaining the quality of properties. In Muscat, there are landmark properties, which are popular even today, although they are more than 30 years old.
Taminat Complex is a modern mixed-use development coming to the market in 2016, providing high-quality residential apartments and offices. All apartments are finished with fully fitted kitchens and built in appliances and there will be the option of 1, 2 or 3 bedrooms.
Total value of real estate activity in the Sultanate surged ahead by 42 per cent to touch OMR3.22 billion for the first nine months of 2015, compared to the same period last year, the statistics released by the National Centre for Statistics and Information (NCSI) shows.
There may be a drop in costs in the medium term that may put pressure on property prices. Oil Prices have dropped significantly in the last year. How has the real estate market in Oman reacted and what does the future hold? As of now, demand and supply are matched and therefore rents and prices are stable. Demand is underpinned by the fact that the economy continues to grow in real terms and, therefore, job creation continues.
Real Estate, to use, an economists technical term, is not a perfect market. Whereas a barrel of oil is identical to the next barrel of oil, a piece of real estate is usually different from another piece of real estate, even in the same location.